Coinstore, a dynamic player in the cryptocurrency industry, has experienced remarkable growth since its establishment in 2020. Within three years, it has expanded to serve more than 7 million users and 700 project teams, with a strong focus on emerging markets such as Indonesia, India, and Nigeria.
To explore the current state of the crypto market and Coinstore’s strategies, BeInCrypto sat down with James Toh, Global Head of Business Development & Partnership at Coinstore Exchange.
Achievements and Growth
«Over the past three years, Coinstore has built an impressive product lineup», James Toh began, highlighting the company’s diverse offerings. «At the moment we have spot trading, over-the-counter (OTC) services, launchpad, wallets, earn program, derivatives, and labs».
Coinstore’s growth in emerging markets has been a significant achievement. As of November 2023, the platform has reached over 5 million registered users across 175 countries and regions, with Indonesia, India, and Nigeria being the key markets. Toh notes he anticipates surpassing 10 million users by 2025 as Coinstore continues to expand its operations.
«Coinstore has made remarkable progress during the bear market and has become one of the fastest-growing trading platforms in 2023. We adhere to the philosophy of “long-termism” and strive to provide users with a secure and reliable trading platform while contributing to the industry in a down-to-earth manner. In terms of user base, we aim to make cryptocurrency accessible to more people. Our goal is to establish Coinstore as a world-class digital asset exchange».
But Coinstore is way more than just a commercial company. The team behind it hopes to have a profound impact on the industry and society, and firmly believes that blockchain technology will create a fairer world. «We’re very committed to providing better tools for society so peope can master the power of Web3», – James notes. The actions speak for themselves: as for today, Coinstore held numerous events to build the bridges between inside and outside the industry, attractions active participation around the world and receiving a warm welcome.
«Our Cryptalk events have emerged as a beacon of knowledge and collaboration within the community. These conferences convene industry leaders, enthusiasts, investors, and KOLs from around the world to explore the latest trends, regulations, and developments in the crypto space. With a global perspective, Cryptalk provides a stage for thought leaders to share insights, discuss regulatory advancements, and dive into the latest innovations driving the blockchain sector. To date, Coinstore has held more than 100 conferences in total, covering countries such as Colombia, Thailand, Russia, Philippines, Malaysia, Vietnam, and many more».
April 2024 marked a pivotal moment for the platform. Coinstore hosted two major events, the 2024 Coinstore Premiere Brand Conference and the Finding the Future Alpha forum on new public chains during the Blockchain Week in Dubai. The team hosted over 500 crypto entrepreneurs, investors, experts, and famous KOLs, bringing unique industry perspectives and discussing the latest industry trends, including BTC ecosystem, the development of L2, and the opportunities and challenges of public chains through the industry’s celebrity forum.
Launchpad’s Success
Discussing Coinstore’s star product, Launchpad, Toh shared its impressive achievements. According to him, launchpad has seen an average IEO subscription rate of 3622,87%, with SOIT delivering a remarkable 27,75x ATH (All-Time High) investment return. CNT and INVT also saw returns of 26,05x and 22,52x ATH, respectively.
An IEO or initial exchange offering refers to an event where the sale of tokens is conducted through an established mode of exchanging crypto. It is a way start-up organisations raise capital by selling utility tokens that confer preferred status with the organisation via a crypto exchange platform.
The Coinstore Prime board has attracted nearly 20 000 participants with an average gain of over 1,170%. Meanwhile, IEO’s Star Up board has hosted 25 projects, engaging around 50 000 participants. Toh also teased the upcoming IEO 2.0 product, promising to pick up more high-quality projects.
«It’s true that most trading platforms offer IEO products, and it’s a significant aspect of many exchanges’ operations. Coinstore has been curating high-quality assets for its users since the launch of its IEO products, and it has become a favorite among our users».
When it comes to differentiating Coinstore’s IEO from competitors’, James believes there are advantages in two key areas: screening and service. The screening process involves multiple layers of evaluation and expert assessments, ensuring high-quality assets for users. Coinstore also offers the projects one-on-one assistance for listing, marketing, and operations, providing a personalized service that sets it apart as a trading platform.
Building a Secure Platform
Toh reiterated Coinstore’s focus on security and compliance, which underpin its one-stop platform strategy. The exchange invest heavily in state-of-the-art security infrastructure, undergoes regular third-party audits and works closely with regulatory agencies to build relevant frameworks.
«Coinstore contacts, discusses and cooperates with local regulatory agencies in major target markets to help them understand blockchain technology and cryptocurrency, and at the same time actively cooperates with local regulatory agencies to build relevant regulatory frameworks. We are committed to becoming the most trustworthy and secure trading platform in the world».
James also emphasized the need for users to protect themselves. Navigating the world of encryption and cryptocurrency can be like walking through a dark forest, so it’s crucial to cultivate both internal and external skills. This means analyzing investments rationally and objectively, distinguishing good projects from bad ones, and avoiding impulsive, blind, and greedy decisions.
Protecting yourself is equally important, he says. Choose a reliable trading platform, participate in trustworthy projects, and conduct transactions in a safe environment. Lastly, diversify your assets to manage them effectively, rather than putting all your eggs in one basket. This will lead to better management and, hopefully, good returns.
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